Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30true82022-07-01falsePromotion of the equestrian industry6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01330996 2022-07-01 2023-06-30 01330996 2023-06-30 01330996 2021-07-01 2022-06-30 01330996 2022-06-30 01330996 c:Director6 2022-07-01 2023-06-30 01330996 d:PlantMachinery 2022-07-01 2023-06-30 01330996 d:MotorVehicles 2022-07-01 2023-06-30 01330996 d:MotorVehicles 2023-06-30 01330996 d:MotorVehicles 2022-06-30 01330996 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01330996 d:FurnitureFittings 2022-07-01 2023-06-30 01330996 d:FurnitureFittings 2023-06-30 01330996 d:FurnitureFittings 2022-06-30 01330996 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01330996 d:OfficeEquipment 2023-06-30 01330996 d:OfficeEquipment 2022-06-30 01330996 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01330996 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 01330996 d:CurrentFinancialInstruments 2023-06-30 01330996 d:CurrentFinancialInstruments 2022-06-30 01330996 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 01330996 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 01330996 d:ShareCapital 2023-06-30 01330996 d:ShareCapital 2022-06-30 01330996 d:RetainedEarningsAccumulatedLosses 2023-06-30 01330996 d:RetainedEarningsAccumulatedLosses 2022-06-30 01330996 c:FRS102 2022-07-01 2023-06-30 01330996 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 01330996 c:FullAccounts 2022-07-01 2023-06-30 01330996 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01330996 2 2022-07-01 2023-06-30 01330996 6 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company Registration Number 01330996























EQUESTRIAN MANAGEMENT CONSULTANTS LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 30 JUNE 2023




 






















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STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,379
7,333

Current assets
  

Debtors: amounts falling due within one year
 5 
197,562
284,095

Current asset investments
 6 
-
574,380

Cash at bank and in hand
  
709,164
52,760

  
906,726
911,235

Creditors: amounts falling due within one year
 7 
(753,307)
(738,626)

Net current assets
  
 
 
153,419
 
 
172,609

Total assets less current liabilities
  
157,798
179,942

  

Net assets
  
157,798
179,942


Capital and reserves
  

Called up share capital 
  
3,680
3,680

Profit and loss account
  
154,118
176,262

  
157,798
179,942


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




W B Hofstee
Director
Date: 3 November 2023

The notes on pages 1 to 6 form part of these financial statements.


 
EQUESTRIAN MANAGEMENT CONSULTANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The company is a private company limited by shares incorporated and domiciled in the United Kingdom. It trades from its registered office at Stockeld Park, Wetherby, West Yorkshire, LS22 4AW.
The principal activity of the company is the promotion of the equestrian industry.
These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of The British Equestrian Trade Association as at 30 June 2023 and these financial statements may be obtained from Companies House.

Page 1

 
EQUESTRIAN MANAGEMENT CONSULTANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
EQUESTRIAN MANAGEMENT CONSULTANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Plant and machinery
-
33% straight line
Motor vehicles
-
33% reducing balance
Fixtures and fittings
-
20 - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
EQUESTRIAN MANAGEMENT CONSULTANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.14

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 8).

Page 4

 
EQUESTRIAN MANAGEMENT CONSULTANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
52,800
46,069
125,808
224,677



At 30 June 2023

52,800
46,069
125,808
224,677



Depreciation


At 1 July 2022
47,944
45,707
123,693
217,344


Charge for the year on owned assets
1,393
361
1,200
2,954



At 30 June 2023

49,337
46,068
124,893
220,298



Net book value



At 30 June 2023
3,463
1
915
4,379



At 30 June 2022
4,856
362
2,115
7,333


5.


Debtors

2023
2022
£
£


Trade debtors
82,502
127,978

Prepayments and accrued income
115,060
156,117

197,562
284,095



6.


Current asset investments

2023
2022
£
£

Unlisted investments
-
574,380

-
574,380


Page 5

 
EQUESTRIAN MANAGEMENT CONSULTANTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
80,266
74,255

Bills of exchange
-
6,391

Amounts owed to group undertakings
376,995
309,715

Other taxation and social security
35,011
34,299

Other creditors
473
418

Accruals and deferred income
260,562
313,548

753,307
738,626



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,956 (2022 - £17,125). Contributions totalling £473 (2022 - £418) were payable to the fund at the reporting date.


9.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.


10.


Related party transactions

The company has taken advantage of exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group and the company is included within the group accounts which are publicly available.


11.


Controlling party

The ultimate controlling party is The British Equestrian Trade Association Limited, a company incorporated in England and Wales. The consolidated financial statements of The British Equestrian Trade Association Limited are available to the public and may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

Page 6